Fairbanks Property Market and Real Estate Guide
(Fairbanks, Alaska - AK, USA)
Fairbanks is the second largest city in Alaska and is located in the center of the state, approximately 320 km / 200 miles south of the Arctic Circle. The extremes of temperature between summer and winter make living here difficult for some, although its beauty attracts visitors all year, especially in the winter months when the Aurora Borealis is visible.
Property values in Fairbanks have historically been low, making it attractive to home-buyers who plan on visiting for over a year. The return on investment (ROI) won't be significant, but homeowners shouldn't lose on resale as prices tend to be static.
Most residents who own homes choose to live on the outskirts of Fairbanks, where houses are more abundant. Those moving to the area should note that the cost of living in Fairbanks is over ten percent higher than the US national average.
Renting Serviced Apartments
With a relatively small population, the opportunities to find a serviced apartment with all the usual amenities are not as abundant as in other US cities. Furthermore, the cost can be quite substantial, especially if utilities are included as part of the rent.
Although the number of serviced apartments is limited, a few cater to the visitor who plans to stay for one to two years, some of which offer month-to-month leases at higher rental prices. The best deal is to sign for a year or more's lease at a significantly lower cost.
Buying Apartments and Houses
Property values in Fairbanks have been historically low for several reasons. It has one of the highest crime rates in the US, although there are areas of the city that are comparatively safe located outside the center. Another factor is that although purchasing a home can be much cheaper here, the increased cost in utilities can offset any savings, as the cold weather plus the shortened days make power usage higher than in other cities in the US.
Property taxes, however, are lower than in other cities, offsetting the increased utility rates, although dependent on the length of stay. As a result, purchasing an apartment is perhaps the best course of action.
Real Estate Agents
There are many real estate agents in Fairbanks and its surrounding areas. It is particularly important to find one that can identify your needs and arrange for suitable housing. Below are several that are recognized throughout the city as experts in the field.
Check out the following Fairbanks realtors and real estate agents:
Meyeres Real Estate
Address: 627 Gaffney Road, Fairbanks, Alaska AK, 99701, USA
Tel: +1 907 456 6000
Meyeres Real Estate has been servicing the city of Fairbanks for over 30 years, and this family-owned business has incredible knowledge of the city and surrounding areas.
Address: 1427 Gillam Way, Fairbanks, Alaska AK, 99701, USA
Tel: +1 907 452 2100
Century 21 has an outstanding reputation all over the US for being one of the best agencies in the country, and can help you find a home or serviced apartment.
RE / MAX
Address: 529 5th Avenue, Suite 200, Fairbanks, Alaska AK, 99701, USA
Tel: +1 907 452 6387
RE / MAX can help you find a serviced apartment, home, or condo in the Fairbanks area, and also specialise in relocation services.